The MCX Gold December futures seem to be taking support around Rs 29,500-odd levels.
Aggressive traders may look at opportunities to buy Gold on dips in the near term, but with a strict stop at Rs 29,500-odd levels.
Select key momentum oscillators like the 14-day RSI and the ADX index have given a positive divergence. However, the Stochastic Slow remains in favour of the bears on the daily charts.
In case, Gold is able to sustain above Rs 29,750-odd levels, a pull-back to Rs 30,500-odd levels may be possible in the short-term.
Click Here for daily support and resistance points.
Aggressive traders may look at opportunities to buy Gold on dips in the near term, but with a strict stop at Rs 29,500-odd levels.
Select key momentum oscillators like the 14-day RSI and the ADX index have given a positive divergence. However, the Stochastic Slow remains in favour of the bears on the daily charts.
In case, Gold is able to sustain above Rs 29,750-odd levels, a pull-back to Rs 30,500-odd levels may be possible in the short-term.
Click Here for daily support and resistance points.
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